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Andrea, Esq.
Andrea, Esq., Lawyer
Category: Real Estate Law
Satisfied Customers: 11851
Experience:  I have practiced law for 25 yrs. with an emphasis on real estate, business law, criminal defense and family law.
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My ex girlfriend is wanting me to give her a quit claim to

Resolved Question:

My ex girlfriend is wanting me to give her a quit claim to house we shared. My name is XXXXX XXXXX and on mortgage, hers is not. We had originally started out as joint when we first started as joint on offer but changed it because she had too much going on in her personal life with son. House is in Texas, we have been living apart now for 3 months, I still reside in house. What are the ramifications if I sign a quit deed.

Thanks
Brooks
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Andrea, Esq. replied 1 year ago.

Hi, My name is XXXXX XXXXX my goal is to provided you with Excellent Service,

 

 

1. Who made the down payment ?

 

 

2. Is your ex-girlfriend able to qualify for a mortgage loan to buy you out, if necessary ?

Customer: replied 1 year ago.


I made down payment, paid closing and have paper trail to prove. Was a required necessity of title company. No she is not able to qualify at this time.

Expert:  Andrea, Esq. replied 1 year ago.

Hi, Brooks, Thank you for your additional information,

 

 

I do not see anything favorable for you in signing a Quit Claim Deed to your ex-girlfriend. You would be giving her complete title to the property, but you would still be liable on the mortgage note. She would not be able to pay you for the down payment you made on the house since she does not qualify for a mortgage loan. Worse still, pretty much all notes and mortgages have a "Due on Sale" clause which means that the lender can call in the full amount of the mortgage loan balance if you transfer title to the property.

 

While I appreciate the fact that you want to be fair, I cannot see any way that you could transfer title to her and be fair to yourself because she will own the property and you will be stuck making the monthly mortgage payment, until the lender finds out about the transfer, then the loan will be immediately payable in full. In such event , you would not even be able to sell the property because it will be in your ex-girlfriend's name,

 

__________________________________________________________________

 

 

Please be kind enough to rate Excellent Service" so that I receive credit for assisting you,

 

Bonus and Positive Feedback on survey is very much appreciated,

 

ANDREA

 

 

(1) You would still be liable under the mortgage note;

(2) She would not be able to buy your interest out since she does not qualify for a mortgage loan

Customer: replied 1 year ago.


would "Due on Sale" clause on morgage contract even apply if we were going for 50% ownership each. My name would still be on title along with hers

Expert:  Andrea, Esq. replied 1 year ago.

Hi, Brooks,

 

I never like to assume anything because it is usually not safe to assume anything, but normally, if the mortgagor (you) is still in title, the mortgagee (lender) does not consider this a transfer for purposes of calling in the loan,

 

________________________________________________________________________

 

 

Please be kind enough to rate Excellent Service" so that I receive credit for assisting you,

 

Bonus and Positive Feedback on survey is very much appreciated,

 

ANDREA

 

Customer: replied 1 year ago.


thanks!

Expert:  Andrea, Esq. replied 1 year ago.

You are welcome, Brooks, Please do not forget to give me a rating so that I can receive credit for assisting you, otherwise I will not receive any credit for my work,

 

______________________________________________________________________

 

Please be kind enough to rate Excellent Service" so that I receive credit for assisting you,

 

Bonus and Positive Feedback on survey is very much appreciated,

 

ANDREA

 

 

Andrea, Esq., Lawyer
Category: Real Estate Law
Satisfied Customers: 11851
Experience: I have practiced law for 25 yrs. with an emphasis on real estate, business law, criminal defense and family law.
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Andrea, Esq.
Andrea, Esq.
Real Estate Lawyer
11851 Satisfied Customers
I have practiced law for 25 yrs. with an emphasis on real estate, business law, criminal defense and family law.